Sole Traders: Registration
The question
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of the potential merits of creating a public register of sole traders.
Answered by Department for Business, Innovation, Science and Trade
There are different ways of setting up a business in the UK for entrepreneurs and traders. Incorporated status offers a separate legal identity, with associated registration, filing and transparency obligations. As a consequence of this, Companies House maintains a register of incorporated companies. However, this model is not the right one for everyone, and businesses will choose the model that is the best fit for them. Sole traders do not have a separate legal identity and are not subject to Companies House filling obligations; a register of sole traders would therefore primarily record contact information. All businesses are required to register with HMRC for tax purposes, and with licencing bodies, local authorities or professional bodies where appropriate.
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